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Your company ABC Warehouse had the following Transactions for the month of February Feb. 1 sold 10 DVDs to Ted's Outlet for 39.99 each with
Your company ABC Warehouse had the following Transactions for the month of February Feb. 1 sold 10 DVDs to Ted's Outlet for 39.99 each with the terms 2/10 N 90 on account Feb. 2 purchased 200 Ipods at $89.99 each Billy Bob with the terms 2/10 N 30 on account Feb. 3 purchased 10 DVD takes at $1.99 each from Mikey Bob with the terms N30 on account Feb. 4 paid $18.34 freight costs for purchase of 10 DVDs purchase on Feb. 1 Feb. 10 received total amount due from Ted's Outlet Feb. 12 paid the total amount due to Billy Bob Feb. 15 Ted's Outlet returned all 10 DVDs sold on 1 Feb, for a full refund, given these DVDs were defective Feb. 22 Returned 5 of the Ipods to Billy Bob for a cash refund, due to detects Feb. 23 collected cash sales of $1500 (not including 6% sales tax from customers. Feb. 26 ABC Warehouse paid sales tax collected of $1834.56 to state of Michigan Give the required entry for Ted's Outlet in his journal for Feb. 4 O Debit Freight in 18.34. Credit Cash 18.34 Debit Cash 18.34. Credit Freight in 18.34 Debit Accounts payable/Freight in 18.34, Credit cash 18.34 O Debit Purchases 18.34, Credit Cash 18.34 O No Journal entry is needed for Ted's Outlet
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